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Truck Leasing Pros and Cons North Providence RI

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

3Rd Generation/Aml Moving & Stg
(508) 226-7701
39 Franklin Mckay Road
Attleboro, MA

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Providence Pack & Ship
(401) 273-7225
754 North Main
Providence, RI
 
Sparks Moving Co Inc
(401) 769-7600
1240 Pawtucket
Rumford, RI
 
Boys in Blue
(401) 233-2786
230 Putnam Pike
Johnston, RI
 
Extra Space Storage
(401) 331-0404
1640 Hartford Avenue
Johnston, RI
 
People'S Moving & Storage Co.
(401) 737-6000
1363 Greenwich Avenue
Warwick, RI

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Murray's Van Lines
(401) 725-5300
50 Maria Avenue
Johnston, RI
 
Jones Moving and Storage
(401) 421-0081
59 Central St.
Providence, RI
 
Uncle Bob's Self Storage
(401) 434-9149
800 Narragansett Park Drive
East Providence, RI
 
Crum Moving
(401) 233-2786
230 Putnam Pike Unit #1
Johnston, RI
 
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Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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